Fed Gov. Stephan Miran has spent his short tenure at the central bank arguing that disinflation in housing and immigration reforms will tamp down inflation in the near term. But other economists say the timing, degree and context of those effects is very much in question.
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SEMT 2025-12's collateral profile is slightly weaker compared with the prior transaction, with a slightly lower weighted average FICO score.
November 12
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The Consumer Financial Protection Bureau Thursday will publish a revamped version of its Section 1071 small business data collection rule, dramatically scaling back the data to be collected and the number of lenders who must comply.
November 12
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MP 2025-1's loan-to-value ratio will not exceed 70% of aggregate appraised value. To maintain this leverage level, the deal will also collect supplemental principal payments.
November 12
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Federal Reserve Bank of Atlanta President Raphael Bostic won't seek reappointment following the end of his current term on Feb. 28, 2026.
November 12
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Second-lien mortgages make up the collateral pool. Those assets normally have a high expected loss severity, but the borrowers appear to be of prime credit quality.
November 11
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Rate-and-term refinances dropped 14% month over month in October, but were still up 143% from last year.
November 11
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The Department of Justice told a court that the Consumer Financial Protection Bureau cannot legally request funding from the Federal Reserve System, arguing that the Fed has not turned a profit since 2022 and thus cannot fund the CFPB.
November 11
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In addition to that subordination, the deal structure includes cash trap and sweep conditions to support cash flow to the deal.
November 11
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Two government-sponsored enterprises are looking into expanding mortgage transfers between borrowers, according to the head of their oversight agency.
November 11
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Federal Reserve Governor Stephen Miran said emerging stresses in housing and private credit markets warrant a reduction to short-term interest rates. While preferring a 50 basis point cut in December, Miran said he would settle for a 25 basis point reduction.
November 10
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Mortgage credit availability increased 2.3% to 106.8 last month, marking the fourth consecutive month of growth.
November 10
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Senior notes are supported by an interest reserve account, and class A2 notes have a scheduled annual amortization of 1.0% before their anticipated repayment.
November 10
